The Central Bank proposes to return to the publication of financial statements by organizations

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AK&M 04 August 2022 13:34

The Bank of Russia proposes to return to the publication of financial statements of financial and non-financial organizations, but while minimizing sanctions risks. This is reported in the report of the regulator "Financial market: new challenges in modern conditions".

The Central Bank intends to analyze and develop approaches to the disclosure of financial statements. The regulator will determine which positions may be sensitive to the imposition of sanctions, providing for the requirement for their aggregation or exclusion during publication.

The Bank of Russia plans at the first stage to give the right to all financial organizations to disclose financial statements in compliance with the requirements for the presentation of information, and at the second stage – to make it an obligation. At the same time, approaches to disclosure of IFRS statements require a separate discussion.